Oplink Communications, Inc. (OPLK), a designer of optical networking components and subsystems worldwide, today announced that its board of directors has approved a new repurchase program authorizing the repurchase of up to $40 million in Oplink common stock.
Oplink also announced that it has mostly completed its $20 million stock repurchase program announced in August 2008.
“We believe this share repurchase program communicates continued confidence in our long-term prospects as well as our commitment to shareholder value,” commented Joe Liu, CEO of Oplink.
Shares of Oplink declined 92 cents, or 6.42 percent, to finish the day at $13.40.
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